The accumulation of the human capital stock plays a key role to explain the economic performance across regions. However, empirical evidence for this claim has been not very convincing, probably due to low quality of the data. This paper provides a robustness analysis of alternative human...

For many analysts, the Chinese economy is spurred by a bubble in the housing market, probably driven by the fiscal stimulus package and massive credit expansion, with possible adverse effects to the real economy. For example, the stock of loans increased by more than 50 percent since the end of...

Minimum wages may be an important instrument to reduce income inequality in a society and to promote socially inclusive economic growth. While higher minimum wages can support the Chinese transformation towards consumption driven growth, they can worsen the price competitiveness in export...